We’re starting to see additional lower priced units come on the market at South Lake. It seems stock market jitters are beginning to scare some folks out of the real estate market. On the Nevada East Shore we’re seeing market value declines but with quite a few sellers still sticking to their list price due to lack of inventory. The next few months should be telling for both areas.
Hunting for a house takes time. When you find that special home you want to be prepared. Loan pre-approval could make the difference, especially with multiple offers.
What happens after pre-approval? Don’t open or close any accounts during that time, or take out credit for any other large purchases. Ask how long the pre-approval will be valid. Typically, it’s for 60 – 90 days and can be updated as needed.
Don’t forget lender fees and closing costs. They include origination fees, the cost of writing the loan and prorated items like property taxes.
Shop around for your home loan and interview lenders. Researchers found that a borrower taking out a 30-year fixed rate conventional loan could get rates that vary by more than half a percent. That could translate into saving thousands on your mortgage. Happy house hunting.
Summit – Tahoe Village Update
Plenty of opportunity awaits those seeking property in the Villages of Lake Tahoe. So is now the time to buy? Short term rentals will be revoked within the city of South Lake Tahoe in 3 years. Tahoe and Summit Villages may be a good alternative for you.
Located at the top of the Kingsbury Grade (State Route 207) at Stateline, the Villages are affordable. Currently condominium prices range from $205,000 to $800,000. Units can be found with either lake or valley views. Many have mountain views of Heavenly resort.
There are over 700 condominium units at the Villages. In addition there are over 600 fractional timeshare units. Tahoe Village offers owners a seasonal swimming pool and spa. Summit Village HOA dues include trash, and road snow removal.
In addition Boulder and Stagecoach Lodges are located within the community offering direct access to Heavenly Resort. Likewise the Tahoe Rim Trail is nearby for hikers and those who snowshoe.
The casino area at Stateline is only 3.5 miles away. Thus entertainment is just a short drive from the Villages. Those looking to explore new areas should check out TJ’s Corral at Minden during the summer months. For example they offer big time entertainment for all ages. Marshall Tucker, The Oak Ridge Boys and Michael McDonald were recent guests.
Summit Village membership in 2018 voted favorably towards the allowance of short term rentals. This area is bordered by Kingsbury Grade to the north, Tramway Dr to the east, S. Benjamin Dr to the west and Bonnie Dr to the south. There are 311 units within this area.
Tahoe Village is located south and includes both ski lodges and the Fox & Hound Smokehouse Grill and Bar. Fox & Hound is a full restaurant and bar offering progressive video poker, satellite TV’s throughout, and free wi-fi.
In conclusion the Villages offer everything you will need to feel at home. For more information or to tour area property contact Bob Stiles, Realtor at 530-314-0352.
Lake Tahoe News
The 170-room Ritz-Carlton Lake Tahoe and an adjacent 3.4 acre parcel are being purchased by Braemar Hotels & Resorts, Inc for $120 million. The plot of vacant land will be used for a luxury residential townhome development. The acquisition is expected to close between December 12, 2018 and January 15, 2019.